Grenouille Properties. Grenouille Properties (U.S.) expects to receive cash dividends from a French joint venture over the coming three years: The first dividend, to be paid in one year, is expected to be 710,000. The dividend is then expected to grow 10.2% per year over the following two years. The current exchange rate is $1.3201/E. Grenouille's weighted average cost of capital is 12%. a. What is the present value of the expected dividend stream if the euro is expected to appreciate 3.80% per annum against the dollar? b. What is the present value of the expected dividend stream if the euro were to depreciate 2.90% per annum against the dollar? a. Astume that the euro is expected to appreciate 3.80% per annum against the dollar. Calculate the dividends in U.S. dollars for the noxt three years beiow, (Round to the nearest whole number for the dividends and round to four decirnal places for the exchange rates.) be paid in one year, is expected to be 6710,000 . The dividend is then expected to grow 10.2% per year over the following two years. The current exchange rate is \$1.3201/E. Grenouille's weighted average cost of capital is 12%. a. What is the present value of the expected dividend stream if the euro is expected to appreciate 3.80% per annum against the dollar? b. What is the present value of the expected dividend stream if the euro were to depreciate 2.90% per annum against the dollar? a. Assume that the euro is expected to appreciate 3.80% per annum against the dollar. Calculate the dividends in U.S. dollars for the next three years beiow: (Round to the nearest whole number for the dividends and round to four decimal places for the exchange rates.)